Air Arabia to launch new carrier

The low-cost airline Air Arabia has entered a joint venture to launch a new budget carrier based in Egypt as it continues to expand its presence despite a global downturn in the industry.

The carrier, Air Arabia Egypt, will fly to destinations in Europe, the Middle East and Africa, with Egypt becoming the Sharjah-based company’s third hub after the UAE and Morocco.

Egypt’s Travco Group has taken a 60 per cent share of the venture as specified by Egyptian law governing the airline industry.